COMMERCE AND FINANCE

Otago Daily Times, Issue 24620, 30 May 1941, Page 2

COMMERCE AND FINANCE

DUNEDIN STOCK EXCHANGE | ‘ YESTERDAY'S SALES i DUNEDIN Sales Reported

AUCKLAND Sales on ’Change.—War Loan (odd lot). £B2 17s 6d; Stock, 1940-43, 4 per cent., £lOl ss; Commercial Bank of Australia. 13s lid; Bank of New Zealand (4). £T 17s 3d; Bank of New South Wales (Sydney reg.), £27; Union Bank, £6 12s 6d; Broken Hill Pty. (2), £2 2s Gd: Farmers’: Trading, £1 0s Sd; Farmers’ Trading (B prof.). £1 Is 6d; Reid Rubber (late sale). £1 8s; Wellington Alluvials, 3s lOd. WELLINGTON Sales on ’Change.—South British Insurance (late Wed.), £2 12s; 4 per cent. Stock, 1940-43, £lOl ss; 4 per cent. Bonds. 1943-46, £103; National Bank Australasia (£10), £ll 15s; National Bank New Zealand, £1 13s 6d. £1 13s 6d; Ley land O’Brien, 15s; Broken Hill, £2 2s 3d; MacDuffs (pref.), 19s; Broken Hill South, £1 2s 9d: Mount Morgan, 9s. CHRISTCHURCH Sales on 'Change.—Kaiapoi Woollens (7s paid), ss. Sales Reported.—Christchurch Gas, £1 Is 3d. LATEST QUOTATIONS GOVERNMENT LOANS

WHEAT PRODUCTION SUPPLEMENTARY IMPORTATION PROBABLE (P.A.) AUCKLAND. May 29. " We are fortunate that during the year the wheat supplied by New Zealand growers and also the wheat from Australia was of satisfactory quality.” said Mr J. B. Donald, presiding at the annual meeting of the Northern Roller Mills. Ltd. “ it was anticipated that sufficient wheat would be grown in New Zealand this year, but now it looks as if It will be necessary to complete our supplies from overseas,” Mr Donald said.' He added that the year had been satisfactory. The directors recommended a dividend of 3 per cent., instead of 4i per cent, last year. MINING NEWS GREY RIVER RETURN The Grey River Dredging Company’s return for the week ended May 28 was 1650 z in 124 hours (93.604 cubic yards).

RESERVE BANK ADVANCES SLIGHTLY HIGHER STERLING EXCHANGE STEADY (P.A.) WELLINGTON, May 2!). The following is a statement of the assets and liabilities of the Reserve Bank as at the close of business on May 26: LIABILITIES

Proportion of roerve (No. 7 less No, 5) to notes and other demand liabilities .. 54.418% 53.981% Sterling exchange i» expressed in New Zealand currency.

NATIONAL BANK OF AUSTRALASIA (P.A.) WELLINGTON, May 29, The National Bank of New Zealand has received cabled advice that at the geneial meeting of shareholders the appointment of Mr H. D. Giddy to the board was confirmed, and the • retiring directors, Messrs H. G. Darling and T. C. Alsou and the auditors were re-elected. AUSTRALIAN STOCK EXCHANGES (Rec. 11.30 p.m.) SYDNEY, May z 9. The Stock Exchange is still quiet and hesitant; , , _ The Morning Sales.—Commercial Bank of Sydney. £l7 17s 6d: Tooheys £1 7s; Anthony Hordern (pref.), £1 Os 6d Australian Consolidated Industries (ex aiv.K £2 2s 6d; British Tobacco, £2 2s 9d; Broken Hill Proprietory. £2 Additional Sales.— Bank of New South Wales, £2G 10s; Commercial Bank of Australia 13s Id; Bank of Australasia, £8 8s: Associated News (pref.), 15s 3d; Self ridges, JBs 6d; United Provisions, 6s 6d; Mort s Dock, 18s lOd; Dalgety's, £5 10s; Felt Textiles. £1 18s: Wilcox Mofflin, 9s. MELBOURNE. May 29. Australian Paper Manufacturers (pref.), £1 5s 3d; Electrolytic Zinc, £2 10s.

AUSTRALIAN MARKETS (Rec. 11.30 p.m.) SYDNEY. May 29. Wheat is unchanged. Silo, 3s llid: bagged. 4s 3Jd. Flour. £l2 13s. Bran and pollard, £6. Potatoes: Tasmanian, to £6 10s; others. £4 10s. Onions: Brown, to £l2 10s; white, to £l7. Maize. 3s lOd to 4s. i ' John M. Fraser and Co.. Ltd., selling agents for Otago and Oainaru Egg Circles, report as under:—Eggs; Heavy grade. 2s lOd; standard, 2s 8d; medium. 2s 6d: pullets’, 2s Id. Dairy butter: Pats, lid to Is Id- bulk. Is Id. Potatoes. 8s to 9s per cwt. Chaff, £6 10s per ton. sacks extra. Canterbury onions, 11s per cwt. Whole fowl wheat, to-6s 9d‘ per bushel. Honey. 7d to 8d per lb; 51b tins, 10lb tins wanted. Poultry: White Leghorn hens, 4s to ss: heavy breeds, 4s 6d to 5s 6d; cockerels, light 4s to 6s, heavy breed 7s. to 8s: roosters. 2s to 4s; ducks, 3s to ss; ducklings. 4s to 5s (all per pair); turkeys, gobblers 8d per lb live weight hens 7d per lb. We stock “ C.F.M.” meatmeal, buttermilk powder. We are Otago'-agents for “ Champion ” egg crates. " Soi-Vjt-Ax.” cod liver oil for poultry: prices 6n application. Consignors please note that all poultry must arrive not later than Wednesday morning of each week. We have a stock of poultry crates on hand for use of our clients.

-c ,s. d War Loan, 1958 .. , . .. .. 83 d 0 Union Bank ... 6 12 G National Insurance ... 0 18 6

Buyer. Seller. £ s. d. £ s. a. 3i p.c.. 1953-57 .. .. 100 10 0 — 4 p.c, 1940-43 .. .. 100 15 0 — 4 p.c., 1943-46 .. .. 102 10 0 — 4 p.c., 1946-49 .. .. 103 10 0 — 4 p.c., 1948 104 0 0 — 4 p.c., 1952-55 .. .. 106 0 0 — War Loan, 1953 .. .. 82 15 0 — BANKING A’sia. (£5) ,. . , .. — 8 12 6 New Zealand (£1) .. I 17 0 1 18 0 Commercial (10s) 0 13 8 0 14 0 E.S. and A. (£3) ,. — 4 2 6 Natl, of N.Z. (£2 10s) . 1 15 3 Union (£5) .. .. .. — 6 15 0 INSURANCE AND SHIPPING National (7s) .. .. 0 18 5 — New Zealand (£1) .. 3 2 6 — South British (10s) .. 2 11 6 — Standard (£1) ,, ., 3 0 0 — P. and 0. Stock (£1) 1 4 0 — MEAT. LOAN AND AGENCY N.Z. Refrig. (£1) ., 0 16 6 — N.Z. Refrig. (10s) 0 7 0 0 7 7 Nat. Mort. (£2) — 1 15 0 L. and M. (ord; £100) 26 10 0 . Perpetual Trust. (18s) 2 11 6 — Trustees, Exectrs. (£3) 4 2 0 — W.S. (ord.; £1) ... •— 0 19 9 W.S. (pref.; £1) 0 19 6 — GAS AND COAL Christchurch (£1) .. 1 0 10 1 1 3 Westport. (10s) .. ., 1 3 6 W.-St'kt'n. (ord.; 10s) 0 2 3 — W.-St’kt'n (pref.; 10s) 0 6 0. 0 6 9 WOOLLEN COMPANIES Bruce (ord.: £1) 1 0 9 — Bruce (pref.; £1) 1 0 3 — Naiapoi (ord.; 17s) .. 0 15 0 — Kaiapoi (cont.; 7s) .. 0 4 9 — Mosgiel (£4) .. .. 10 0 0 — Timaru (£1) .. .. — 0 15 0 Wgtn. (pref.; £5) .. 6 15 0 — MISCELLANEOUS A.C.I. (£1) .. .. 2 2 6 British Tobacco (£1) — 2 7 6 Broken Hill Pty. (£1) 2 2 0 2 3 0 Brn., Ewing (pref.: £1) — 1 2 6 Chas. Begg (£1) 1 1 0 — Consol. Brick (£1) .. — 0 7 0 Crystal Ice (£ 1) .. .. 2 7 0 — D.I.C. (pref.; £1) 1 3 9 — Dorn. Rubber (£1) .. — 1 0 0 Donaghv’s Rope (£1) — 2 13 0 MacDuffs (ord.; £1) — 0 10 0 MacDuffs (pref.: £1) — 0 19 6 Mil burn Lime (£ 1) .. — 1 18 0 McLeod Bros. (£10) — 26 15 0 Natl. Electric (£1) .. 1 0 0 1 0 G N.Z. Paper Mills (£1) I 10 3 — O. Daily Times (£1) — 1 17 6 Southland Ice (£1) .. 1 4 0 — Wilsons Cement (10s) 0 18 6 — Woolworths (ord.; 5s) 0 13 0 0 13 6 Woolworths (Syd.; 5s) 0 16 0 0 16 5 Wlwths. Prop. (£1) 1 4 0 — BREWERIES Ballin’s (£1) .. 0 10 0 — N.Z. Breweries (£!)■ I H 3 — ) Dominion (£1) .. ., n 8 0 1 9 0 Dunedin (£!)'■ — I 2 0 MINING Broken Hill Sth. (5s) 1 2 0 — E. Zinc (ord.; £1) .. 2 10 0 ' E. Zinc (pref.; £1) .. 2 12 6 — Mount Lyell (£1) —- 1 7 6 Mount Morgan (2s 6d) 0 8 9 — Wgtn. Alluvials (2s) .. — 0 3 9 Austral. N.Z. (£1) .. 1 4 0 Big River (Is) .. .. — 0 1 1 Grey River (10s) — 0 16 0 Nokomai (5s) .. .. — 0 1 3

1. General Reserve Fund .. May IS. £ 1.500,000 May 26, £ 1,500.000 2. Bank notes 21,803,612 21,782,022 3. Demand liabilities— (a) State 8.413,289 8,475,658 (It) Banks 13.506.759 13.893,264 (o) Other 386,340 344,1 10 4. Time deposits — — - 5. Liabilities In currencies other than New Zealand currencies 12.956 23,126 6. Other liabilities .. 1,216,131 1,244,047 Total £46,935,090 £47.262.220 7. ASSETS Reserves— (a) Gold 2,801,824 2,801.874 (b) Sterling exchange .. 21.267.306 21.240,183 (c) Gold exchange .. .. — — 8. Subsidiary coin .. .. 74,890 79,223 9. Discounts— (a) Commercial and agricultural bills -. .. (b) Treasury and local body bills .. — 10. Advances— (a) To State or State undertakings— (1) Primary Produce Marketing Department 3,986,693 4,267.276 (2) For other purposes 13,500,000 13,900.000 (b) To other public authoritles — - (c) Other — II, Invettmenti 3,772.569 3.772,569 12. Bank buildings .. .. — , — 13. Other assets 1,561.755 1.601.092 Total £46.965,090 £47.262,220